Common use of Minimum required security cover Clause in Contracts

Minimum required security cover. If, and so often as, the aggregate, charter-free market value of the Ships (as determined in accordance with Clause 15.5 at such times as the Lender may from time to time require) plus the market value of any additional security for the time being actually provided to the Lender pursuant to Clause 15.2 falls below 125 per cent. of the aggregate of:

Minimum required security cover. If, and so often as, the aggregate, charter-free market value of the Ships (as determined in accordance with Clause 15.5 at such times as the Lender may from time to time requireClauses 16.5 and 16.6) plus the market value of any additional security for the time being actually provided to the Lender pursuant to Clause 15.2 16.3 falls below 125 per cent. of the aggregate of:

Minimum required security cover. If, and so often as, the aggregate, charter-free aggregate market value of the Ships which are the subject of a Mortgage (as determined in accordance with Clause Clauses 15.5 at such times as the Lender may from time to time requireand 15.6) plus the market value of any additional security for the time being actually provided to the Lender pursuant to Clause 15.2 15.3 falls below 125 120 per cent. of the aggregate , of:

Minimum required security cover. If, and so often as, the aggregate, charter-free aggregate market value of the Ships which are the subject of a Mortgage (as determined in accordance with Clause Clauses 15.5 at such times as the Lender may from time to time requireand 15.6) plus the market value of any additional security for the time being actually provided to the Lender pursuant to Clause 15.2 15.3 falls below 125 130 per cent. of the aggregate of: